What it means: After a busy summer listing season, where we saw nearly 225 new listings hit the market in May/June/July, listing activity has quieted down a bit. Forty-four new listings hit the market in both August and September, similar to monthly levels seen last Spring. Overall dollar volume of these new listings also dropped off, however several high end listings came onto the market in September, including a 15 acre, 10,000 square foot estate in Dairy Ranches (listed for $15 million) and a newly built 14,000 square foot home in 3 Creek Ranch (listed for $18 million). Of the 5 new vacant land listings, two are listed over $7 million including a 35 acre tract in Bar BC Ranch (listed for $7 million) and a unique piece of property along the Snake River with Fish Creek running through it (listed for $7.9 million). The average listing price for September listings continues to hover just under $2.3 million, much higher than the monthly average sales price, which has been just below $1.5 million the last few months. The median listing price (a more accurate representation of the "middle" price point) also increased in September to $1.14 million (for homes/condos/townhomes). Over a quarter of new listings are already under contract (as of Oct 10th), as demand remains high for well priced properties.

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About Katie Colbert Brady

Katie has extensive experience in both residential and commercial real estate in Jackson Hole, Wyoming, and specializes in working with a range of buyers and sellers including first time home buyers, vacation home sellers and investors alike.